Certainly better than a sharp stick in the eye. Here's July's Manufacturing Technology Pulse Reading from AMT. What's a bit encouraging is that the numbers are up, not just year-over-year, but also they're up month-over-month.
That's a trend that flies in the face of fears of a slow second half of 2012. Let's hope, uh?
Pat McGibbon, AMT, 703-827-5255
FOR RELEASE: July 9, 2012
May Manufacturing Technology Orders Up 12.1%
McLean, Va. ... May U.S. manufacturing technology orders totaled $473.92 million, according to the Association for Manufacturing Technology (AMT). This total, as reported by companies participating in the USMTO program, was up 14.5% from April and up 19.0% when compared with the total of $398.10 million reported from May 2011. With a year-to-date total of $2.24 billion, 2012 is up 12.1% compared with 2011.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTO program.
"The latest USMTO figures indicate both sound health and continued expansion in durable goods manufacturing," said AMT President Douglas K. Woods. "This is backed up by other key economic indicators, including an upward revision in housing starts and a strong showing in durable goods orders. While the latest PMI saw a slight dip, overall indications are that manufacturing will continue to lead the way in the general economy."
The United States Manufacturing Technology Orders (USMTO) report, compiled by the trade association representing the production and distribution of manufacturing technology, provides regional and national U.S. orders data of domestic and imported machine tools and related equipment. Analysis of manufacturing technology orders provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.
U.S. manufacturing technology orders are also reported on a regional basis for five geographic breakdowns of the United States.
Manufacturing technology orders in the Northeast Region in May totaled $63.68 million, down 6.0% from April's $67.72 million and down 0.6% when compared with the May 2011 figure. At $313.37 million, 2012 year-to-date is up 2.4% when compared with 2011 at the same time.
Southern Region manufacturing technology orders totaled $77.67 million in May, a 60.3% increase from the $48.44 million total for April and 40.0% more than the total for May 2011. The year-to-date total of $293.28 million is 14.3% more than the comparable figure for 2011.
At $153.17 million, May manufacturing technology orders in the Midwest Region were up 19.8% when compared with the $127.87 million total for April and up 4.9% when compared with May a year ago. With a year-to-date total of $738.08 million, 2012 is up 7.9% when compared with 2011 at the same time.
May manufacturing technology orders in the Central Region totaled $134.85 million, 2.3% more than April's $131.76 million and up 40.7% when compared with the May 2011 figure. At $675.93 million, the 2012 year-to-date total was 22.7% more than the comparable figure for 2011.
Western Region manufacturing technology orders in May stood at $44.54 million, 17.0% more than the April total of $38.07 million and 21.6% higher than the figure for May 2011. The $214.70 million year-to-date total was 9.4% above the total for the same period in 2011.